The Global Safety I / O Modules Market is valued at USD XX . XX billion in 2016 and is expected to reach a value of USD XX . XX billion by the end of 2022 , growing at a projected CAGR of XX . XX % during the forecast period of 2017 – 2022 . The new Safety Input-Output ( I / O ) Modules offer all the advantages of the traditional distributed I / O safety systems . With the help of these new modules , it is easier to control and monitor safety devices . Additionally , it detects failure at I / O levels and at the field device levels , along with enhancing the operator protection . The current global market for Safety I / O Modules is expected to grow in Asia-Pacific , Europe , Latin America and Middle Eastern regions . A major share of contribution to the growth of this particular market is through various technological advancements .
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The Global Safety I / O Modules Market is broadly segmented based on types , end-users and regions . Based on the types , the market is segmented into Analog Module ( I / O ), Digital Module ( I / O ), Network Adaptor , Power Supply & Chassis , and Intelligent I / O . Similarly , with regard to its end-users , its applications can be explained under segments such as Automotive , Energy & Power , Manufacturing , Healthcare , Transportation and others . Some of the key market players mentioned in the report are Rockwell Automation , Bihl + Wiedemann GmbH , Siemens , ABB , Schneider Electric , among others .
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Drivers : The key factors contributing to the growth of Global Safety I / O Modules are the demand for intrinsically safe I / O modules , compulsory industrial or government safety standards , miniaturization of devices , and the demand for reduced wiring cost as well as reduced start-up machine time .
Challenges : Lack of product awareness and complex industry standards are the key challenges for the Global Safety I / O Modules Market .
What the report offers : 1 . Market definition for the global Safety I or O Modules market , along with identification of key drivers and restraints .
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